Comments
New Delhi, October 12 The Securities and Exchange Board of India will auction as many as six properties of four companies, including Swar Agrotech and Life Care Infratech, next month at a reserve price of Rs 5 crore. Properties of Servehit Housing and Infrastructure India and Raghav Capital and Infrastructure will also go under the hammer.
According to a SEBI notice, auction of these land parcels spread across Uttar Pradesh and Haryana will be conducted on November 11. The reserve price of these properties amounts to Rs 4.74 crore. The move is part of an effort by SEBI to recover money that these companies had illegally mobilised from people.
Swar Agrotech, Raghav Capital, and Servehit Housing had mobilised funds from the public through collective investment scheme, without getting regulatory approvals, while Life Care Infratech had raised funds from investors through issuance of securities without complying with the public issue norms.
The capital markets regulator has engaged SBI Capital Markets to assist in the sale of these properties through e-auction platform. Interested candidates can inspect the properties during November 12-16, SEBI said, adding that bidders should make their own independent enquiries regarding the encumbrances, title of properties put on auction and claims, prior to submitting their bids.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.